The Chinese Sparkle Roll Group may be the new owner of Bang & amp; Olufsen, the Danish manufacturer of luxury hi-fi equipment and other consumer electronics. Sparkle Roll is a seller of various luxury items in China. So sells expensive watches to Rolls-Royce- and Bentley cars.
Bang & ; Olufsen (Dutch Height)
Dutch Height
In a Tuesday press release published reports Sparkle Roll that negotiations are not yet completed. If no agreement on the price is still there. Which should be according to the Chinese ‘reasonable’. Also must reflect ensure the uncertainties in the market and further growth of the Danish company.
Sparkle Roll also reported no financial details. The group has a modest market value, which is half that of the Bang & amp; Olufsen. According to Qi Jianhong, the largest shareholder of Sparkle Group, the Danes benefit from the acquisition. Management can therefore better focus his attention on a necessary restructuring. The sales could go up.
Competition from smartphones
Bang & amp; Olufsen has to deal with difficult market conditions, now more and more people listen to music via a smartphone than the expensive Danish hi-fi systems. Also, the prices of other electronics products such as flat screen TVs, continued under pressure
Sparkle Roll is no stranger to Bang & amp.; Olufsen. The Danes working since 2012 with the Chinese group to boost sales in the People’s Republic. Last week, Bang & amp; Olufsen yet that its production of TV sets are outsourcing to Taiwanese LG Electronics
The 91-year-old Bang & amp.; Olufsen applies by its sleek design and high quality as a concept among electronics enthusiasts. Two years ago reported Ole Andersen, Chairman of the Board, however, in the Danish newspaper Berlingske that the company would be too small to survive in the electronics sector
the message led to the stock exchange in Copenhagen appreciation for the share Bang & amp; Olufsen. Initially rose 8%.
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